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Ameriprise Financial Announces Fixed Annuity Reinsurance Transaction with Global Atlantic


Ameriprise Financial, Inc. (NYSE:AMP) ("the company") announced today
that its insurance subsidiary, RiverSource Life Insurance Company, has
entered into an agreement with Commonwealth Annuity and Life Insurance
Company, a subsidiary of Global Atlantic Financial Group, to reinsure
approximately $1.7 billion of fixed annuity policies sold through third
parties, which is approximately 20 percent of the company's in force
fixed annuity account balances.

The transaction generated approximately $200 million of deployable
capital and it is expected to be accretive to the company's adjusted
operating earnings per diluted share in 2019. The transaction is
effective as of January 1, 2019 and was dated March 19, 2019. It will
have no impact to RiverSource policyholder contractual provisions, and
RiverSource will retain account administration and servicing of the
fixed annuity policies. The coinsurance agreement contains investment
guidelines and a trust to meet the company's enterprise risk management

Ameriprise Financial remains focused on shifting its business mix by
reducing the level of capital allocated to its more capital-intensive
business lines and this transaction represents progress in executing
this strategy.

This news release contains certain forward-looking statements regarding
the timing and manner of, and the sources of funding for, the company's
purchase of shares pursuant to the share repurchase program. Such
statements reflect management's plans, estimates and beliefs, and are
subject to risks and uncertainties, which could cause actual results to
differ materially from such statements. Readers are cautioned not to
place undue reliance on the forward-looking statements contained in this
release, which speak only as of the date hereof. We undertake no
obligation to update publicly or revise such forward-looking statements.

At Ameriprise Financial, we have been helping people feel confident
about their financial future for more than 120 years. With a nationwide
network of 10,000 financial advisors and extensive asset management,
advisory and insurance capabilities, we have the strength and expertise
to serve the full range of individual and institutional investors'
financial needs. For more information, visit

© 2019 Ameriprise Financial, Inc. All rights reserved.

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